The U.S. Commerce Department released construction spending data on Monday. The U.S. construction spending rose 0.4% in December, missing expectations for a 0.9% gain, after a 0.2% decline in November. November's figure was revised up from a 0.3% drop.

Private construction spending increased in December, while spending in power and transportation projects declined.

Private construction spending was up 0.1% in December, spending in power projects fell 1.0%, while spending on transportation declined 1.4%.